PwC: 83% of Media and Telecom Companies Utilize GenAI for Research and Innovation

According to a PwC research report, a significant 83 percent of media and telecommunications companies in India are leveraging GenAI for innovation and research. The report highlights that generative AI has created new opportunities for innovation and efficiency, boosting productivity. Approximately 76 percent of companies identified GenAI as one of their top five strategic priorities, while 42 percent consider its adoption among their top three strategies.

CEOs in the technology sector anticipate greater disruptions than those in the telecom and media industries. In technology firms, 68 percent of respondents view GenAI as a long-term disruptive force, while 51 percent in media and entertainment and 40 percent in telecom share this perspective. Notably, around 40 percent of executives in technology, media, and telecom (TMT) report that they are already experiencing benefits from their GenAI initiatives and are on course to realize the expected return on investment (RoI).

Interestingly, 32 percent of executives in the technology sector anticipate achieving their desired return on investment (RoI) within the next year. In contrast, 30 percent of respondents from the telecom sector are unsure when they will reach their desired RoI. The industry attributes the widespread adoption of GenAI to the easy accessibility of tools like Gemini, ChatGPT, and GitHub Copilot.

These applications provide user-friendly interfaces and pre-trained models, facilitating the integration of GenAI into projects and workflows for both individuals and organizations.

Technology companies demonstrate greater awareness and usage of GenAI compared to those in the media and telecom sectors. As early adopters, most organizations in the tech sector already have at least one GenAI use case in place.

The adoption of GenAI is driven by various factors, including the need to meet customer expectations, shifts in the labor market, and the desire to remain competitive.

Within the technology sector, there is a significant emphasis on integrating GenAI, with 40 percent of organizations having applications ready for deployment and a comprehensive strategic roadmap prepared for implementation in more than two areas.

The media and entertainment sector exhibits varying stages of adoption, with 35 percent currently in the evaluation phase. In the telecom sector, 50 percent of respondents are also in the evaluation stage. However, despite the benefits, companies utilizing GenAI are mindful of issues related to control, safety, and accountability.

It also says that around 87 per cent of the companies conduct board-level reviews while 67 per cent acknowledge that their policy frameworks are insufficient to effectively address security concerns.The report says that about 62 per cent of the companies have increased funding for employee initiatives to promote GenAI adoption.